Michigan Laws 389.163 – Program costs of new jobs training program; payment from money received from new jobs credit from withholding; agreement; provisions; amount remitted to community college district; information t
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Terms Used In Michigan Laws 389.163
- Agreement: means a written agreement between an employer and a community college district concerning a project and any amendments to that agreement. See Michigan Laws 389.161
- bonds: means bonds, notes, or other debt issued by a community college district under this chapter. See Michigan Laws 389.161
- Community college: means an educational institution providing collegiate and noncollegiate level education primarily to individuals above the twelfth grade age level within commuting distance. See Michigan Laws 389.105
- Employer: means a person that is engaged in business and has employees in this state. See Michigan Laws 389.161
- month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
- New job: means a full-time job in this state that meets all of the following:
(i) Except as provided in subparagraph (ii) or (iii), is a new, existing, or expanding business of an employer. See Michigan Laws 389.161New jobs credit from withholding: means the credit described in section 163. See Michigan Laws 389.161 program: means the project or projects established by a community college district for the creation of jobs by providing education and training or retraining of workers for new jobs. See Michigan Laws 389.161 Program costs: means all necessary and incidental costs of providing program services. See Michigan Laws 389.161 Project: means a training arrangement that is the subject of an agreement entered into between the community college district and an employer to provide program services. See Michigan Laws 389.161
(1) If any part of the program costs of a new jobs training program are to be paid from receipt of money from a new jobs credit from withholding, the agreement shall contain all of the following provisions:
(a) That program costs are to be paid from money received from a new jobs credit from withholding.
(b) That the new jobs credit from withholding shall be based on salary and wages paid to employees of the employer in the new jobs.
(c) That for each employee in a new job, the employer shall each month pay the amount required to be deducted and withheld by the employer under section 703 of the income tax act of 1967, 1967 PA 281, MCL 206.703, to the community college district in the same manner as the employer returns and pays withholding payments to the revenue division of the department of treasury, and the community college district shall pay the amounts received into a special fund to pay program costs and the principal of and interest on any bonds issued by the community college district to finance or refinance the project in whole or in part.
(d) That the community college district may irrevocably pledge the new jobs credit from withholding, and the special fund into which the withholdings are paid, for the payment of the principal of and interest on bonds issued by a community college district to finance or refinance the project in whole or in part.
(e) That for each new jobs credit from withholding paid to a community college district under subdivision (c), the employer shall certify to the department of treasury that the payment was made pursuant to an agreement and shall provide any other information reasonably requested by the department of treasury.
(f) Any other provisions required by the community college district.
(2) At the end of each calendar quarter, a community college district receiving money from a new jobs credit from withholding shall certify to the department of treasury the amount of new jobs credit from withholding each employer with which the community college district has an agreement has remitted to the community college district in that calendar quarter.
(3) By April 1 of each year, each community college district that received money from a new jobs credit from withholding in the preceding calendar year shall provide all of the following information to the department of treasury for the preceding calendar year:
(a) The name of the community college district.
(b) The name of each employer with which the community college district has an agreement, organized by major industry group under the North American industry classification system published by the office of management and budget.
(c) The amount of money from a new jobs credit from withholding each employer described in subdivision (b) has remitted to the community college district.
(d) The amount of new jobs training revenue bonds the community college district has authorized, issued, or sold.
(e) The total amount of the community college district’s debt related to agreements at the end of the calendar year.
(f) The number of degrees or certificates awarded to program participants in the calendar year.
(g) The number of individuals who entered a program at the community college district in the calendar year; who completed the program in the calendar year; and who were enrolled in a program at the end of the calendar year.
(h) The number of individuals who completed a program an employer described in subdivision (b) hired to fill new jobs.
(i) Any other information reasonably requested by the department of treasury.